The Madsen project is unusual since a lot of work can be done in parallel, speeding up time to production, said Gwen Preston, vice president of investor relations at West Red Lake Gold Mines.
Preston spoke to Kitco Mining in early June at THE Mining Investment Event of the North in Quebec City.
West Red Lake Gold Mines (TSXV: WRLG) is advancing its Madsen gold mine in the Red Lake gold district of Ontario. The mine was previously owned by defunct PureGold, and Madsen has had over $350 million in investment. Infrastructure includes a brand-new mill that can 800 tonnes per day with a tailings facility that has capacity. There are two ramp portals and a 1,275m shaft. The mill was constructed and commissioned in 2020.
Madsen is located in a storied mining district. The Red Lake gold district of Northwest Ontario has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits.
Preston said the company has attracted a lot of mine builders, such as Anthony Makuch and Duncan Middlemiss. The company’s CEO is Shane Williams.
"Our goal is to have this mine turned on in the second half of next year," said Preston. "To get there, there's the usual path to turning a mine on, which is resource studies, permitting, feasibility study, engineering, financing, start construction, and then turn it on.”
“We're doing things all in parallel, and that's because a huge amount of this mine is already built."
Coverage of THE Mining Investment Event of the North is sponsored by EMX Royalty.
0:00 - What's the opportunity at West Red Lake Gold Mines?
5:24 - Important mining region
7:35 - Management team at West Red Lake Gold Mines
11:25 - Milestones over the next 12 months
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